Gilead, Teva Reach Settlement Over Viread Patent

FOSTER CITY, Calif. (AP) -- Gilead Sciences will allow Teva Pharmaceuticals to launch a generic version of its HIV and hepatitis B treatment in December 2017 under a new patent settlement between the two companies.

The fight over a generic version of Viread was due to head to federal court this week.

Officials with Gilead said late Tuesday that while they believe strongly in the validity of their intellectual property, the settlement minimizes any distraction that would accompany a protracted legal battle.

The trial has been adjourned pending finalization of the settlement.

Gilead Sciences Inc. is based in Foster City, Calif. Teva is an Israeli company.